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2010 (11) TMI 776 - HC - Income TaxTaxability of IPRS - as per revenue IPRS accrued on the date of export, i.e., March 22, 1993 and therefore, the same was exigible to income-tax relating to the assessment year 1993-94 - Held that:- The issue regarding accrual of income from export incentive came up for consideration before this court in CIT v. Sriyansh Knitters P. Ltd. [2010 (10) TMI 638 - PUNJAB AND HARYANA HIGH COURT] wherein it was held that no income accrued till the claim of the assessee was quantified and verified. Admittedly, in the present case, the assessee had submitted the claim for IPRS and received it during the next assessment year, i.e., the assessment year 1994-95 and, therefore, the same could not be held to be taxable in the current assessment year.
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